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Daily Newsletter Newsletter-Agri Agri Commodity 18/02/2011

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MARKET WRAP Turmeric surges on strong demand Jeera up on low supply Pepper up on low supply Soy bean, soy oil trades a tad higher Guar up on export demand Chana falls on increased arrivals Mentha oil falls on profit booking

Traders of Turmeric are receiving good orders from north Indian buyers which is likely to support the upside in prices. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Indian importers have bought Vietnamese pepper at cheaper rate which is likely to create pressure on prices in Indian market. Fresh arrivals of Chana might start increasing from Madhya Pradesh at Indore markets in small quantities. Sharp decline in other pulses prices across major market is also triggering weak trend in Chana market. Indian traders are getting good gum export enquiries, which might render support to the market. The physical demand for soybean and its by-products has been declining for last couple of days on fear of likely government intervention to control higher food inflation. In the upcoming budget, food inflation is major concern and government might announce further measures to control it. Soybean oil prices are expected to trade lower at prevailing prices & government of India may abolish import duty of 7.5 % from refined edible oils are also in favor of bears. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (MAR) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1355 • R1 - 1330 • S1 - 1275 • S2 - 1250

Support

GUARGUM (MAR) Trend

• Consolidate • Buy on dips

Strategy

CHANA (MAR MAR) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2675 • R1 - 2645

Support

• S1 - 2555 • S2 - 2510

GUARSEED (MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 8715 • R1 - 8550

Resistance

• R2 - 3007 • R1 - 2970

Support

• S1 - 8220 • S2 - 8060

Support

• S1 - 2835 • S2 - 2775

JEERA (MAR) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (FEB FEB) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 16675 • R1 - 16360

Resistance

• R2 - 1190 • R1 - 1165

Support

• S1 - 15820 • S2 - 15600

Support

• S1 - 1120 • S2 - 1100

PEPPER (MAR) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (MAR MAR) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 24470 • R1 - 23970

Resistance

• R2 - 661 • R1 - 655

Support

• S1 - 23300 • S2 - 22900

Support

• S1 - 642 • S2 - 636

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SOYABEAN (MAR)) Trend Strategy

• Bearish • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2550 • R1 - 2511

Resistance

• R2 - 10565 • R1 - 10360

Support

• S1 - 2440 • S2 - 2400

Support

• S1 - 9960 • S2 - 9755

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